Ryvyl licenses payment platform as a service to U.S. national payment processor

RYVYL licensed its payment-platform-as-a-service to a U.S. based Licensee that will deploy services nationwide for both Card Present and Card not present transactions. Under the licensing model, RYVYL will earn revenue per transaction. “Leveraging our core technology to build a new high margin revenue stream, we signed an exclusive U.S. license of our private label PPaaS platform, for a niche industry customer base,” said RYVYL Co-founder and CEO Fredi Nisan. “In the third quarter of 2024, we delivered a private label Instance of the product, which the licensing partner will complete API integration to its banking network by the end of Q3 and should start contributing revenue by Q4. We expect it will take time to ramp up transactions as the licensee begins to onboard their available portfolio of more than 1,000 merchants.”